The primary objective and purpose of the Jon Sims Endowment Fund for the Performing Arts is to engage in donor solicitation and other fundraising activities for nonprofit, tax-exempt performing arts organizations, to hold and invest such funds as are so raised, and to distribute them to other qualified performing arts organizations on application of their respective Boards of Directors for such purposes and in such amount as the Directors of this corporation shall think prudent.
Tip for Planning Your Estate
It's important that every estate plan be reviewed and possibly revised periodically to reflect changes in your financial, family situation, or new tax laws (such as those passed in December 2010). It may be that you wish to add new beneficiaries, such as the Jon Sims Endowment Fund.
To make a small change, you might only need a codicil (i.e. an amendment) to a will or your revocable trust. To make more major changes, a completely new will may be preferable (in this case, make sure the new will explicitly revokes all prior wills).
Note: you don't necessarily need to change your will or trust in order to benefit JSEF via your estate plan. You can leave a portion of your life insurance or a retirement account just by filling out a new beneficiary form. Savings accounts, CDs, and brokerage accounts can also be designated to benefit JSEF without changing your will or trust. Contact us for more details.